One Hyde Park Penthouse Sells For Record Price

Penthouse D in One Hyde Park – the famous luxury housing development in Knightsbridge – has been sold for £140 million. The sale makes the 16,000 sq ft, two-floor apartment the most expensive property in the capital.

And when fully furnished, the flat’s value could reach £175 million. Developer Christian Candy’s CPC Group said it had used “global professional valuation companies” to give the flat a potential price tag of £160-£175 million.

The new owner has not been revealed but is believed to be from Eastern Europe. Prior to the sale of Penthouse D, London’s highest-priced apartment was also at One Hyde Park and was bought by Ukrainian oligarch, Rinat Akhmetov, for £136 million back in 2011.

London has seen a surge in demand from Russia and Eastern Europe’s elite who view the capital as a safe place to invest their cash as the turmoil in their region continues.

To date there has been more than £1.19 billion in sales at the One Hyde Park block near Harrods, which was bought by Nick and Christian Candy for £150 million in 2004.

Property tycoon, Nick Candy, and his wife Australian actress, Holly Valance, on their wedding day

The brothers developed the Knightsbridge site – a former 1950s office block – with Waterknights, the private company of Qatar’s Sheikh Hamad Bin Jassim Bin Jabor Al Thani.

Candy & Candy, run by Nick Candy, were the interior designers and development managers for the project.

The sale shows that the city’s property market is booming: 33 British homes selling for £1million or more every day.